Observation: GU long, liquidity resting above
Overall trend: bearish on D1 & W1
Confirmation: 705, 50% EQ of OB
Entry: after 2nd rejection of 30m low at H2 FVG, on M5
Stop: below higher TF low
Concerns: bearish over all trend
Observation: Possible return long on higher TF for liquidity
Overall trend: Bearish on D1 & W1
Confirmation: 2 BOS on 15, gap for price to retrace to from Fridays long move, 3/4 H4 candles not making highs
Entry: after 2nd 15m BOS
Stop: above previous highs
Concerns: GU drop causing EU rise
Observation: Price momentum weakening at previous 4H high, 30 min and hourly body has closed below previous high
Overall trend: price has broke 4h structure bearish
Confirmation: broken structure lower time frame and hourly close below.
Entry: slightlty late
Stop: above previous high on lower tf 20 pips
head n shoulders on higher timeframe
price at fib zone of .705
double top right shoulders
emas fanned out 50, 200, 800 on 15 & 1H
some divergence on 15 min
Reasons why on chart and labeled.
1. Price has anchored at 1H support line of structure
2. TDI band is over sold.
3. Price rise to area of resistence of structure
would coincide with .618 potential strong reversal point of fib.
4. .7030 region was last tested as resistence 5 times,
now potential to act as support, also same region as 4H support (blue).
5. 50...
- Price has formed a descending channel on the 4 hour chart at the support band of the daily structure
- Price is over sold on weekly TDI insinuating potential bullish price action soon.
- Wait for price to drop from 4H descending channel to touch the daily structure (orange) and wait for 15 minute reversal pattern to enter trade.
- Potential buy zone 109.4 - 108.8
- Price touching off upper trend of structure, also showing as over bought on the TDI indicator, 4H timeframe.
- Possible second leg of M forming on 15 minute time frame for 2nd leg entry
- Possible entry : .9990
- Possible TP: .9915
